The Nexus consortium, headed by Cintra Infraestructuras – a subsidiary of Spanish construction group Ferrovial – has been named preferred tenderer for the A$1.6 billion (€1.1 billion; $1.2 billion) Toowoomba toll road project in Queensland, Australia.
The project involves the design, build, financing, operation and maintenance (DBFOM) of a 41-kilometre (km) section of the Toowoomba Second Range Crossing toll road in Toowoomba, a city 78 miles west of Brisbane in Queensland.
The consortium is now working with the Queensland government to finalise the contract, which involves a concession period of 25 years. As well as Cintra and another Ferrovial subsidiary, Ferrovial Agroman, the grouping also includes North American/Australian developer Plenary Group, Spanish infrastructure firm Acciona and Australian infrastructure services firm Transfield Services.
The new section of road will bypass Toowoomba, thereby improving traffic conditions in the region by reducing the heavy goods traffic that currently crosses the centre of the city. The concession period starts from the date the highway opens to traffic, which is scheduled for the end of 2018.
Cintra is now one step closer to completing its first investment in Australia. The firm currently manages more than 2,180km of toll roads in Canada, the US and Europe, and is the largest shareholder in the 407 ETR concessionaire in Ontario, Canada with a stake of 43.23 percent.